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Dec 22, 2012
12/12
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for the last few weeks, i have been working with the leaders of both parties on a proposal to get our deficit under control, to avoid tax cuts -- to avoid tax hikes on the middle-class. and to make sure we can spur jobs and economic growth. a balanced proposal that cuts spending, but also ask the wealthiest americans to pay more, a proposal that will strengthen the middle class over the long haul, and our economy over the long haul. in the course of these negotiations, i offered to compromise with republicans in congress. i met them halfway on taxes and more than halfway on spending. today, i am still willing to get a comprehensive package done. i still believe that reducing our deficit is the right thing to do for the long-term health of our economy and the confidence of our businesses. i remain committed to working towards that goal, whether it happens all at once, or whether it happens in several different steps. but in 10 days, we face a deadline. in 10 days, under current law, tax rates are scheduled to rise on most americans. and even though democrats and republicans are arguing about w
for the last few weeks, i have been working with the leaders of both parties on a proposal to get our deficit under control, to avoid tax cuts -- to avoid tax hikes on the middle-class. and to make sure we can spur jobs and economic growth. a balanced proposal that cuts spending, but also ask the wealthiest americans to pay more, a proposal that will strengthen the middle class over the long haul, and our economy over the long haul. in the course of these negotiations, i offered to compromise...
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Dec 26, 2012
12/12
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CSPAN
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it should not be done as part of a deficit reduction. it should be done to secure the solvency of social security. healthcare little different circumstance because that is the 800 pound gorilla. if you look at growth as a share of g.d.p., the healthcare accounts interest on the debt, that's where it's at. it's not in the discretionary accounts or social security. the place we are having very significant growth of a share of g.d.p. is in the healthcare accounts. and as i indicated as a nation we are spending so much more than anybody else and the other countries that are advanced are actually with less expenditures a share of their national income are getting better healthcare out comes. so there say chance for savings -- so there is a chance ofor savings without hurting beneficiaries and with actually improving the competitive position of our economy. >> richard man will give the mike to the individuals and identify youself and what your question is. >> i'm a reporter with lrp publications. in the chart that talked about the $1 trillion
it should not be done as part of a deficit reduction. it should be done to secure the solvency of social security. healthcare little different circumstance because that is the 800 pound gorilla. if you look at growth as a share of g.d.p., the healthcare accounts interest on the debt, that's where it's at. it's not in the discretionary accounts or social security. the place we are having very significant growth of a share of g.d.p. is in the healthcare accounts. and as i indicated as a nation we...
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Dec 23, 2012
12/12
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i thought that it was important for us to reduce our deficit in a balanced and responsible way. i said it was important for us to make sure that millionaires and billionaires paid their fair share. i said that we were going to have to make some tough cuts, some tough decisions on the spending side, but what i wouldn't do was hurt vulnerable families only to pay for a tax cut for somebody like me. their task is going to be to sift through everything i did that is out there and even take a look at some bad ideas. the come up but a concrete set of recommendations in a month. i would hope that our memories are not so sure that what we saw in midtown is a lingering with us. as soon as they get those recommendations i will be providing forward very specific proposals. we will be working with members of congress to get stuff done. and the idea that we would say this is terrible, this is a tragedy, never again, and we don't have the sustained attention span to be able to get this done over the next several months doesn't make sense. i have more confidence in the american people than tha
i thought that it was important for us to reduce our deficit in a balanced and responsible way. i said it was important for us to make sure that millionaires and billionaires paid their fair share. i said that we were going to have to make some tough cuts, some tough decisions on the spending side, but what i wouldn't do was hurt vulnerable families only to pay for a tax cut for somebody like me. their task is going to be to sift through everything i did that is out there and even take a look...
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Dec 30, 2012
12/12
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FOXNEWSW
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we still have the looming 16 trillion plus budget deficit. remember that? and the politicians they are taking their time on that as well. we will ask house budget committee member south carolina republican congressman when joins us live later this hour. he is worried that the talks have not addressed spending. so we have to address that. >> breaking news now in the benghazi terror attacks in libya. president obama this morning told "meet the press" the u.s. now has some "very good leads" about who carried out the deadly strike. >> there was sloppiness, not intentional in terms of how we secure embassies in areas where you essentially don't have governments that have a lot of capacity to protect the embassies. so we are are doing a thorough review. not only will we implement all of the recommendations that were made but we will try to do more than that. with respect to who carried it out, that is an ongoing investigation. the fbi has sent individuals to libya repeatedly. we have some very good leads, but this is not something that i'm going to be at liberty
we still have the looming 16 trillion plus budget deficit. remember that? and the politicians they are taking their time on that as well. we will ask house budget committee member south carolina republican congressman when joins us live later this hour. he is worried that the talks have not addressed spending. so we have to address that. >> breaking news now in the benghazi terror attacks in libya. president obama this morning told "meet the press" the u.s. now has some...
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Dec 30, 2012
12/12
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FOXNEWSW
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the budget of the president, $5.3 trillion deficit. people understand that. they know about his war on fossil fuels. here we are in a position of having the most recoverable fossil fuels reserves of any country in the world. we could be totally independent in a matter of weeks, and he won't let us develop our own resources. those are three things what he is doing to the military and all of that, that people are aware of. they are not aware of the cost of the regulations that he has. now, i would just use three of the regulations he was putting off until after the election. one having to do with the boiler mac. it was the regulations on boilers. every manufacturer has a boiler. that would be $63 billion cost in taxes and 800,000 jobs. coal the same way. he actually did away with coal by having an emissions requirement where there is no technology that will reach it. that will be 1.65 million. the reason i mention these, i could be talking about a lot of different regulations. but if you add up these three regulations, that would be $100
the budget of the president, $5.3 trillion deficit. people understand that. they know about his war on fossil fuels. here we are in a position of having the most recoverable fossil fuels reserves of any country in the world. we could be totally independent in a matter of weeks, and he won't let us develop our own resources. those are three things what he is doing to the military and all of that, that people are aware of. they are not aware of the cost of the regulations that he has. now, i...
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Dec 27, 2012
12/12
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FOXNEWSW
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we don't have a short-term deficit problem. we have a jobs and growth problem and we have a faltering recovery. we should put off the sequester. put off this grand bargain. come back. let the bush tax cuts expire. make sure the middle class doesn't have to pavement the schif a manufactured media drama. >> laura: wow, can you say out of touch? joining us now from new york is maxwell a democratic strategist and guy benson the political editor for "town hall.com." okay. this is quite something. we have been hearing from the obama white house, the congressional budgetffice and any number of conservative economistst that this is serious. that we have got to get this thing done that we have got to get it in order. or at some point america's full faith and credit is going to go away. we are not going to look so good to the rest of the world as far as credit risk. so let's talk to you about this. is this a manufactured media crisis or does something substantial need to be done here? >> well, i certainly think that the fiscal cliff, tha
we don't have a short-term deficit problem. we have a jobs and growth problem and we have a faltering recovery. we should put off the sequester. put off this grand bargain. come back. let the bush tax cuts expire. make sure the middle class doesn't have to pavement the schif a manufactured media drama. >> laura: wow, can you say out of touch? joining us now from new york is maxwell a democratic strategist and guy benson the political editor for "town hall.com." okay. this is...
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Dec 29, 2012
12/12
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FBC
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you will still be left with a huge deficit. it's going to have to mean cutting the federal budget. >> even if we increase the tax rates, the top 1 percentn this country makes seven timbers of the income. 37 percent of the taxes. so a fair share argument really is it -- lou: you're getting a again start out here. your last shot. >> mr. president, please, please work with the business community. we want you to succeed, but you're putting impediments in is next.nd make impossible. the thin line between video and reality, talking with a man who knows that line and exploits it to train our military, and he says some brutally violent video games can turn some kids int killers. colonnl dave grossman with us next. ♪ music kids will spend 15 minutes watching online videos like this one. brushing for two minutes now, can save your child from severe tooth pain later. two minutes twice a day. they have the time. guest to says guns are not the real problem. kids are becoming so desensitized to violence and to death because of violent vide
you will still be left with a huge deficit. it's going to have to mean cutting the federal budget. >> even if we increase the tax rates, the top 1 percentn this country makes seven timbers of the income. 37 percent of the taxes. so a fair share argument really is it -- lou: you're getting a again start out here. your last shot. >> mr. president, please, please work with the business community. we want you to succeed, but you're putting impediments in is next.nd make impossible. the...
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Dec 22, 2012
12/12
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CSPAN
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last year, when the tea party republicans stymied the efforts of the deficit reduction committee that we called "the supercommittee," we said at the time that it would take a definitive election to decide the matter. november 6, the american people spoke. the american people spoke very clearly, and i think decisively. president obama has won all but one of the soda ash called swing states. he won a landslide victory in the electoral college, and he won the popular vote by more than 4.5 million votes. democrats in the senate added to their numbers, and won a popular vote margin of 56-44. house,e in the people's more than 1.5 million more americans voted for democrats then voted for republicans. the american people have spoken loud and clear, yet the republican leadership continues to exercise extreme partisanship, in defiance of the will of the people. i am hopeful that the spirit of the season will take hold over the next several days, and we can come back here after christmas with less partisan extremism, and work together to achieve honorable compromises that will arrest the widenin
last year, when the tea party republicans stymied the efforts of the deficit reduction committee that we called "the supercommittee," we said at the time that it would take a definitive election to decide the matter. november 6, the american people spoke. the american people spoke very clearly, and i think decisively. president obama has won all but one of the soda ash called swing states. he won a landslide victory in the electoral college, and he won the popular vote by more than...
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Dec 27, 2012
12/12
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CNNW
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health care, the biggest add to our deficit in this country is rising health care costs. do we need to tangle those? how do they interact with the changes that are going to be set up across the country. is it going to cost the taxpayer more or less? all those have to be in the realm of realistic facts and figures. >> you're in arizona today. many of your constituents worked over the holidays. do you think congress should have stayed in washington to work for an agreement? >> absolutely. absolutely. once you know, once the boehner plan "b" collapsed, all we got was a notification, you can go home. we'll call you when we're ready. boehner's got to get off -- the majority of the majority must agree to something. it's going to take democratic votes to pass a tough fiscal compromise and unless there is inclusion and discussion on both sides of the aisle about this issue, that compromise gets tougher and tougher. >> thank you for coming "outfront." >> appreciate it. thank you. >> now, on the other side of the aisle. republican congressman of wisconsin. congressman, you just hea
health care, the biggest add to our deficit in this country is rising health care costs. do we need to tangle those? how do they interact with the changes that are going to be set up across the country. is it going to cost the taxpayer more or less? all those have to be in the realm of realistic facts and figures. >> you're in arizona today. many of your constituents worked over the holidays. do you think congress should have stayed in washington to work for an agreement? >>...
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Dec 30, 2012
12/12
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FBC
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eye 125
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you will still be left with a huge deficit. it's going to have to mean cutting the federal budget. >> even if we increase the tax rates, the top 1 percentn this country makes seven timbers of the income. 37 percent of the taxes.. so a fair share argument really is it -- lou: you're getting a again start out ere. yourast shot. >> mr. president, please, pase work with the business community. we want you to succeed, but you're putting impediments in is next.nd make imposible. the thin line between video and reality, talking with a man who knows that line and exploits it to train our military, and he says some brutally violent video games can turn some kids int killers. colonnl dave grossman with us next. [ male announcer ] you are a business pro. executor of fficiency. you can spot an amateur from a mile away... while going shoeless and metal-ee in seconds. and you...rent from national. because only national lets you choo any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now t
you will still be left with a huge deficit. it's going to have to mean cutting the federal budget. >> even if we increase the tax rates, the top 1 percentn this country makes seven timbers of the income. 37 percent of the taxes.. so a fair share argument really is it -- lou: you're getting a again start out ere. yourast shot. >> mr. president, please, pase work with the business community. we want you to succeed, but you're putting impediments in is next.nd make imposible. the thin...
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Dec 29, 2012
12/12
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FOXNEWSW
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that contributes to deficit reduction. they said this is consistent with the bipartisan commission approach. yes, he did say that and, yes, we don't have that and, yes, we are approaching this deadline. >> how do you negotiate with someone who said during the campaign over and over three dollars in cuts for are one dollar in revenue and now neither side is going to get everything that they want. but the house republicans have said okay, we'll find $800 billion in revenue but give us the $2.4 trillion in it cuts and he has not been willing to do that. so the last ditch effort the hail hary pass was the house of representatives saying fine let's take nancy pelosi and chuck schumer's bill that they proposed this summer to extend the tax rates on every household and every small business a million dollars and below, allow them to go up on the million dollars and above which is the current law on january 1, let's do that. that ought to be something we can agree on. let me add this. when we he voted on our bill in the house this
that contributes to deficit reduction. they said this is consistent with the bipartisan commission approach. yes, he did say that and, yes, we don't have that and, yes, we are approaching this deadline. >> how do you negotiate with someone who said during the campaign over and over three dollars in cuts for are one dollar in revenue and now neither side is going to get everything that they want. but the house republicans have said okay, we'll find $800 billion in revenue but give us the...
WHUT (Howard University Television)
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Dec 28, 2012
12/12
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WHUT
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how is it we can be talking about tax cuts at the same time we have this massive deficit? we are getting the american people to believe we can cut taxes, increase military spending, and balance the budget. that is kind of what they talked about during the reagan administration and ended up with a huge hidden deficit, beginning to bloom once the administration's came in. we have to change our economy. we have to emphasize job creation. and then investors can come back in and you can start to see consumer confidence building. but right now we are limping as a nation. our politics are being translated into some kind of punch and judy show between democrats and republicans. we don't need that. we have got to help real people. we have to keep people in their homes, did not only unemployment benefits passed the people back to work. why are we not emphasizing that? that is why this whole debate about the fiscal cliff, as steve baker says, has elements that are commerical. >> congressman, in your response, you link the war machine to the battles at home over domestic spending. cou
how is it we can be talking about tax cuts at the same time we have this massive deficit? we are getting the american people to believe we can cut taxes, increase military spending, and balance the budget. that is kind of what they talked about during the reagan administration and ended up with a huge hidden deficit, beginning to bloom once the administration's came in. we have to change our economy. we have to emphasize job creation. and then investors can come back in and you can start to see...
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Dec 29, 2012
12/12
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FOXNEWSW
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insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. >> joining us now from capitol hill. south dakota republican senator john thune, a member of the budget committee. so, senator, what do you make of the president's plan? >> i'm just glad the president is engaged. you can't do big things in washington, d.c. without presidential leadership. that's what we haven't had. the fact that he is now owe table. better late than never i would argue. at least he is at the table presenting something that will give us a chance hopefully to get some bipartisan support in the senate and perhaps get something to the house that will avert what everybody agrees is a major economic disaster. but we're still waiting for the details and obviously there is a long ways to go and this is a very -- there is going to be a tough needle to thread in order to get this done. >> see, i don't understand why the democrats think that this is an economic disaster going off the cliff since really it's j
insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. >> joining us now from capitol hill. south dakota republican senator john thune, a member of the budget committee. so, senator, what do you make of the president's plan? >> i'm just glad the president is engaged. you can't do big things in washington, d.c. without presidential leadership. that's what we...
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Dec 29, 2012
12/12
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FOXNEWSW
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still looking at trillion-dollar deficit. that just goes to show spending cuts. right now we don't have them. talks about them and there is accounting fuzzy math going on but there is not any serious entitlement reform. we can't just wait and talk about that in january. needs to be included in any package before we go forward. >> you know, juan, the point she is making when we talk about spending cuts. basically a guy pulling the olives off a meat lover's pizza and saying he is on a diet. something so incidental and ignoring this huge huge problem this black hole that is spending. it's true. we are going nowhere. >> no, i disagree. you know what? >> you like picking the olives off. that's you and spending cuts. >> not only that i like it when the an chofs because then getting lot of antioxidants with my pizza and i feel good about eating the pizza even though i'm bloated. when you look at the reality. alice says the president hasn't put any spending on the table. wrong, the president has left wing face furious with him, alice, because he said we will will put the
still looking at trillion-dollar deficit. that just goes to show spending cuts. right now we don't have them. talks about them and there is accounting fuzzy math going on but there is not any serious entitlement reform. we can't just wait and talk about that in january. needs to be included in any package before we go forward. >> you know, juan, the point she is making when we talk about spending cuts. basically a guy pulling the olives off a meat lover's pizza and saying he is on a diet....
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Dec 30, 2012
12/12
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KPIX
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might look like but will it actually do anything to cut the deficit? and what happens nay don't get a deal? we'll hear from two senators who have been working together on deficit reduction, assistant majority leader dick durbin of illinois, and senator tom coburn of oklahoma. then we'll look forward to 2013 with an all-star panel include peggy noonan of the "wall street journal." dee dee myers of "vanity fair." "time" magazine's executive editor michae michael duffy, and also "time" columnist joe klein. and we'll hear from major garrett and nancy cordes. >> you going to get a deal today, sir? >> hope so. >> o'donnell: it's all ahead because this is "face the nation." captioning sponsored by cbs from cbs news in washington, "face the nation" with bob schieffer. substituting for bob schieffer, cohost of "cbs this morning," norah o'donnell. >> o'donnell: good morning, again. tom coburn and dick durbin are here, and we'll turn to both of you in just a moment. but we want to start with some new information from chief white house correspondent major garrett
might look like but will it actually do anything to cut the deficit? and what happens nay don't get a deal? we'll hear from two senators who have been working together on deficit reduction, assistant majority leader dick durbin of illinois, and senator tom coburn of oklahoma. then we'll look forward to 2013 with an all-star panel include peggy noonan of the "wall street journal." dee dee myers of "vanity fair." "time" magazine's executive editor michae michael...
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Dec 29, 2012
12/12
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FOXNEWSW
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the most deficit reduction is going to come from no deal. and that's what we need. that's what this economy needs, the biggest threat to economic growth, if the deficit and the debt, 4 trillion, everybody talks about it as some sort of grand bargain. it's barely a start. this isn't a fiscal cliff, it's a fiscal bunny hill, let's slide down it. >> if we slide down, jonas, in the first week, people are going to open up the paycheck and see less money there. i don't think that people understand that at this point. >> people get used to tax cuts, that's the problem. short-term expiring tax cuts, including the payroll tax cut. you know, it's not the best way to solve a problem, but this cliff is the result of not coming up with deals and they're not going to come up with battery deal, if it's negotiated it's not the ideal way to solve it out after deficit. we'd like to gradually raise taxes and cut spending, but this is the best we're going to get. any of the deals they would agree on, probably leave us to the other guest's point, close to a trillion dollars anyway, and
the most deficit reduction is going to come from no deal. and that's what we need. that's what this economy needs, the biggest threat to economic growth, if the deficit and the debt, 4 trillion, everybody talks about it as some sort of grand bargain. it's barely a start. this isn't a fiscal cliff, it's a fiscal bunny hill, let's slide down it. >> if we slide down, jonas, in the first week, people are going to open up the paycheck and see less money there. i don't think that people...
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Dec 30, 2012
12/12
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CSPAN2
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eye 123
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having said that, it has become part of our deficit negotiation. i'm troubled by the notion that we're somehow going to give a tax break to some 6,000 very fortunate americans and incur a new expense for our federal government of some $130 billion or $140 billion in the process. what are we thinking? at a time whaoef to try to -- we have to try to bring together the resources to reduce our deficit, why would we want to give a new bonus break for the wealthiest people in this country when it comes to the estate tax. at that to me would be a step backwards. i hope we are not forced into any agreement that includes it, although i stand here knowing full well that if there is an ultimate compromise there will be parts of it i find disgusting and reprehensible which i may have to swallow in the name of following a compromise to avoid the fiscal cliff. that is the nature of a compromise. i hope that one isn't included but it may be. we have to do things important for this economy and one of the most important is to make sure we extend unemployment benefi
having said that, it has become part of our deficit negotiation. i'm troubled by the notion that we're somehow going to give a tax break to some 6,000 very fortunate americans and incur a new expense for our federal government of some $130 billion or $140 billion in the process. what are we thinking? at a time whaoef to try to -- we have to try to bring together the resources to reduce our deficit, why would we want to give a new bonus break for the wealthiest people in this country when it...
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Dec 22, 2012
12/12
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FOXNEWSW
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eye 260
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this is it the largest deficit reduction in history. >> president bush. >> american families have to balance their budgets and so should the government. >> and president. >> ever day families sacrifice to live in their means and they deserve a government to do the same. >> boehner insists that the president is singing a different tune. >> it is clear that the president is not serious about cutting speppeding, but speppeding is the problem. >> you can hear the talking heads every day and back and forth every day. but have you tried to get your head around how much the government doles out every day. what is the basic math we have the problem. >> in the month of november. the government brought in five billion worth of revenue . we spend more than 11 billion a day. the difference as you can clearly see is roughly six billion dollars. so how can we keep speppeding more than we take in? the econist said we can't. the government spends more than 11 billion a day. where does thity of the money g. top four outlays. department of health and human services that goes through three billion of t
this is it the largest deficit reduction in history. >> president bush. >> american families have to balance their budgets and so should the government. >> and president. >> ever day families sacrifice to live in their means and they deserve a government to do the same. >> boehner insists that the president is singing a different tune. >> it is clear that the president is not serious about cutting speppeding, but speppeding is the problem. >> you can...
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Dec 27, 2012
12/12
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CSPAN
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eye 114
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finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. there were some key elements. one was the proliferation of blue-collar workers in united states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do you invest them? where do you keep them? you keep them with the low inflation rate. that is one reason. one mechanism that helps attract the capital from the rest of the world and close the loop. wall street was another. it has an amazing capacity to create a metaphysical value out of nothing. walmart was another. is promoted the ideology of cheapness, which was calculated so brilliantly. nobody needs a gallon of pickles. i don't think it fits in a fridge. why was walmart producing it? i think it was a symbolic gest
finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. there were some key elements. one was the proliferation of blue-collar workers in united states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do...
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Dec 30, 2012
12/12
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FOXNEWSW
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it ought to be about reducing the deficit and debt. they're suggesting we want new taxes, higher taxes on people in this country to pay for new spending. >> republicans continue saying they're waiting for harry reid to make a counter offer. >> they're not making that tonight. he's told us that's not going to happen it but they're working on it. a sounds like a change of entitlement programs is irritating them. >> republicans created way of calculating inflation to lower payments to recipients of social security. the senate majority leader offered this update a short time ago. >>> i was really gratified to hear republicans took their dammed for social security benefit cuts off the table. they should never have been on the table. there's still significant distance between the sides but negotiations continue. there's still time left and we intend to continue negotiations. >> senator mitch mcconnell says there was no single issue that remains an impossible sticking point. all that's is needed he says is a willingness, interest, or courage
it ought to be about reducing the deficit and debt. they're suggesting we want new taxes, higher taxes on people in this country to pay for new spending. >> republicans continue saying they're waiting for harry reid to make a counter offer. >> they're not making that tonight. he's told us that's not going to happen it but they're working on it. a sounds like a change of entitlement programs is irritating them. >> republicans created way of calculating inflation to lower...
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Dec 30, 2012
12/12
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WBAL
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part of that is deficit reduction. part of it is also making sure that we're investing for example in rebuilding our infrastructure. which is broken. and if we are putting people back to work rebuilding our roads, our bridges, our schools -- in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three, we've got a huge opportunity around energy. we are producing more energy and america can become an energy exporter. how do we do that in a way that also deals with some of the environmental challenges that we have at the same time. so that's going to be a third thing. but the most immediate thing i've got to do, starting on january 1st, if congress doesn't act before the end of the year, is make sure that taxes are not going up on middle class families. and because it is going to be very hard for the economy to sustain its current growth trends if suddenly
part of that is deficit reduction. part of it is also making sure that we're investing for example in rebuilding our infrastructure. which is broken. and if we are putting people back to work rebuilding our roads, our bridges, our schools -- in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three, we've got a huge...
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Dec 30, 2012
12/12
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MSNBCW
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eye 213
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part of that is deficit reduction. part of it is also making sure that we're investing, for example, in rebuilding our infrastructure, which is broken. and, you know, if we are putting people back to work, rebuilding roads, bridges, schools, in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three. you know, we've got a huge opportunity around energy. we are producing more energy, and america can become an energy exporter. how do we do that in a way that also deals with the environmental challenges we have at the same time? so that's going to be a third thing. but the most immediate thing i've got to do starting on january 1, if congress doesn't act before the end of the year, is to make sure that taxes are not going up on middle class families. because it is going to be very hard for the economy to sustain its current growth trends if suddenly we ha
part of that is deficit reduction. part of it is also making sure that we're investing, for example, in rebuilding our infrastructure, which is broken. and, you know, if we are putting people back to work, rebuilding roads, bridges, schools, in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three. you know, we've got a huge...
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Dec 30, 2012
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is in the white house, deficits don't matter. can you tell us a little bit about the philosophies of the two candidates? well now, the president and the ex-candidate. will the situation be that much different if there was a different man in the white house? guest: well, look, it's an interesting question. it is certainly true that tax policy was one of the key sort of issues in the last election. and actually, the debate that we're having if it sounds familiar, it's because we've had it several times before. it was really a similar debate to what we had in 2008. we had the same debate in 2010. we had a similar debate in 2011 when we were dealing with the debt ceiling issue the first time around. and we dealt it with it in the last election. and the differences have always been that president obama has maintained that tax cuts should be allowed to expire for people making more than $250,000. mitt romney called for extending all the tax cuts fully. and making other changes to the tax code. but, you know, i mean, he wouldn't be in o
is in the white house, deficits don't matter. can you tell us a little bit about the philosophies of the two candidates? well now, the president and the ex-candidate. will the situation be that much different if there was a different man in the white house? guest: well, look, it's an interesting question. it is certainly true that tax policy was one of the key sort of issues in the last election. and actually, the debate that we're having if it sounds familiar, it's because we've had it several...
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who should pick up the burden for deficit reduction? working people who have seen their wages go down or the top 2% who have done phenomenally well, while their effective tax rate, as mitt romney reminded us by not releasing his tax returns, is extremely low. so to my mind, what this deficit reduction debate is about is asking the wealthiest people, the large corporations to help us with deficit reduction and give a break for a change to the middle class and working families. >> as you say, one that would mean less money for seniors with the social security adjustment is off the table, are you more optimistic about getting a deal done. >> we still have a long way to go. >> what do you see as the major sticking point? >> one of the sticking pointing, what the republicans want to do is continue the 2010 agreement on lower estate tax rates, which means, chris, $120 billion tax break over a ten-year period for the top 0.2 of 1%. they get $120 billion tax break. and people come forward and say we're very serious about deficit reduction. thir
who should pick up the burden for deficit reduction? working people who have seen their wages go down or the top 2% who have done phenomenally well, while their effective tax rate, as mitt romney reminded us by not releasing his tax returns, is extremely low. so to my mind, what this deficit reduction debate is about is asking the wealthiest people, the large corporations to help us with deficit reduction and give a break for a change to the middle class and working families. >> as you...
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Dec 27, 2012
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medicaid deficit finance right now. those are key parts of a safe bet that we'll b will be fallinr their own financial weight unless they are fixed. what we really have to do on behalf of the next generation. gerri: they want to raise the debt ceiling again, as a matter of fact by monday we will be out of dough. it is unconscionable to me we are in this position again. let's remember what happened last time. the market sold off, the economy went into the tank. will that happen all over again? >> i think it is a serious possibilities out like to make that they don't mix the debt ceiling in with the fiscal cliff. we have to get to next without a self-inflicted recession and take on the debt ceiling which a symptom of the national debt. if we can deal with the national debt, we can get a deal on the debt ceiling. but that is a lot of work. gerri: the war of words going on is not helping. harry reid saying it is republicans fault and somebody from boehner's office said harry reid has to talk less and legislate more. it is c
medicaid deficit finance right now. those are key parts of a safe bet that we'll b will be fallinr their own financial weight unless they are fixed. what we really have to do on behalf of the next generation. gerri: they want to raise the debt ceiling again, as a matter of fact by monday we will be out of dough. it is unconscionable to me we are in this position again. let's remember what happened last time. the market sold off, the economy went into the tank. will that happen all over again?...
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Dec 24, 2012
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the deficit of about $1 trillion that is for fiscal 2013. that assumes that somehow the fiscal cliff doesn't happen and we don't reduce the deficit by $600 billion. national debt, about $16 billion , debt held by the public -- as a percentage it is getting up there. we've had it before. as we talked about two weeks ago it is not so much that the size of the debt it is how fast the debt is growing in comparison to the size of the economy. you don't want to pay off the debt but you want it to fall. host: how did we get to this point? why is the government spending so much and under this president, we've seen the debt go up $1 trillion each year over the last four years. where is it going? guest: there are two main ways to look at it. right now, we're still coming out of this economic crisis. so you have large debts for four years mainly because you have low revenues as people don't have jobs or they are getting paid less. then there has been extra spending programs over the last four years but also, we have this mandatory spending programs tha
the deficit of about $1 trillion that is for fiscal 2013. that assumes that somehow the fiscal cliff doesn't happen and we don't reduce the deficit by $600 billion. national debt, about $16 billion , debt held by the public -- as a percentage it is getting up there. we've had it before. as we talked about two weeks ago it is not so much that the size of the debt it is how fast the debt is growing in comparison to the size of the economy. you don't want to pay off the debt but you want it to...
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Dec 30, 2012
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that is only 5% or 6% of the deficit. when it comes to defense spending the only reason i would vote for this deal if sequestration is not included is trusting people like dianne to work with me to make sure it never becomes a reality post january 1. >> chris: even if you get the automatic cuts which are $110 billion or $120 billion in the first year even if you get those the deal that you are talking about does not reduce our national debt because extending the bush tax cuts on 98%, 99% of americans it will actually increase the debt by trillions of dollars over the next decade. the question is when are you guys going to get serious about spending? >> we are getting serious about spending. we already cut spending between the c.r. and the affordable care act. we cut spending a trillion dollars plus. how to there is an argument over how much but let's say it is a trillion and a half dollars. having said that, i think there is a commitment to cut spending. if you do it by virtue of sequestration it falls regardless of prior
that is only 5% or 6% of the deficit. when it comes to defense spending the only reason i would vote for this deal if sequestration is not included is trusting people like dianne to work with me to make sure it never becomes a reality post january 1. >> chris: even if you get the automatic cuts which are $110 billion or $120 billion in the first year even if you get those the deal that you are talking about does not reduce our national debt because extending the bush tax cuts on 98%, 99%...
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i think there is a deficit there of very broad-minded leadership, and there is certainly a deficit of trust between the congress and the president, and 20 republican in congress and the democrats. so plenty of fault to go around. >> o'donnell: dee dee, what about that? mitch mcconnell, who is really now at the heart of make something sort of deal today about how far he can take republicans, he says the president called him last week. it was the first time he's talked to the president since november 16. why is-- is there something the president is responsible for that he's not reached out enough to republicans and established that kind of trust that there has been lacking? >> look, i would have liked to have seen the president do more reaching out during the entirety of his first term. keep in mind, the president has been negotiating with john boehner, and that was the agreed upon format. he's been in conserves with him, and when push comes to shove, boehner cannot get these deals done in his caucus. the big change is not in the white house. it's in the culture of congress. it has beco
i think there is a deficit there of very broad-minded leadership, and there is certainly a deficit of trust between the congress and the president, and 20 republican in congress and the democrats. so plenty of fault to go around. >> o'donnell: dee dee, what about that? mitch mcconnell, who is really now at the heart of make something sort of deal today about how far he can take republicans, he says the president called him last week. it was the first time he's talked to the president...
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. >> warren buffett could pay off the deficit he wanted to. but it is to be that a deal will happen after january 1. does that make any difference? >> yes, it does. i think some of all this panic is a little bit overwrought. if they don't reach a deal in the next 22 hours or so, then we go into january, and the stakes get so much higher. as you said, people will start feeling immediately the effect of those higher taxes. and that will put the pressure on the congress and president reach a deal. if they don't reach a deal on december 31, which is my prediction, i believe sometime before the end of january, they will reach a deal. but my goodness. one of the things that is frustrating is we have known this day was coming for the last two years. yet here we are, 72 hours away and we don't have a resolution. gregg: this is a contrivance that they are desperately trying to fix. our member the president said in a debate, the debate, he said that i didn't come up with this. then bob woodward came out and said, yes, you did. you know, both a top aide
. >> warren buffett could pay off the deficit he wanted to. but it is to be that a deal will happen after january 1. does that make any difference? >> yes, it does. i think some of all this panic is a little bit overwrought. if they don't reach a deal in the next 22 hours or so, then we go into january, and the stakes get so much higher. as you said, people will start feeling immediately the effect of those higher taxes. and that will put the pressure on the congress and president...
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Dec 26, 2012
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that would cut the deficit in half. that would affect the ability to finance this larger government than he has created. so that would be consistent with his vision. then we would have a cry for tax reform act of top rates on the wealthy would be too high if you are running a small business. so they would eliminate some deductions. the tax burden overall would be about the same. and the deficit if with starts to wind down. the problem is president obama has also presided over a french- style growth rates of 2% per year. is not the worst of jamee have been been in the post world war era. -- this is not the worst jam. reagan had the economy growing at 6%. whereas mr. obama, to%. the downside has been the notion of accepting a much slower broken. longer-term, the pyramid of our society is getting more like a column, because we're having more and more older people -- people are living older and we can raise the retirement age. even with that we will have a larger elderly population to take care of. 2% growth becomes very di
that would cut the deficit in half. that would affect the ability to finance this larger government than he has created. so that would be consistent with his vision. then we would have a cry for tax reform act of top rates on the wealthy would be too high if you are running a small business. so they would eliminate some deductions. the tax burden overall would be about the same. and the deficit if with starts to wind down. the problem is president obama has also presided over a french- style...
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, it is 6 or 7% and i don't believe all of it will go on the deficit. when we raised the debt ceiling in august of 2011, we borrowed $2.1 billion. we spent that much money, in 17 months. why would i raise the debt ceiling again, unless we address what put us in debt to begin with? i'm not going to raise the debt ceiling unless we get serious about keeping the country from becoming greece, and social security and medicare, here's what i would like, meaningful entitlement reform, not to turn social security into private accounts, not to take a voucher approach to medicare. but, adjust the age for social security, cpi changes and means testing and look beyond the ten-year window. i cannot in good conscience raise the debt ceiling without addressing the long term debt problems of this country and i will not. >> chris: and, senator feinstein, you heard president obama say we have to get out of the habit and will not start trading debt ceiling increases for spending cuts. >> i think the key to what he is saying is that you don't affect people at this time. wh
, it is 6 or 7% and i don't believe all of it will go on the deficit. when we raised the debt ceiling in august of 2011, we borrowed $2.1 billion. we spent that much money, in 17 months. why would i raise the debt ceiling again, unless we address what put us in debt to begin with? i'm not going to raise the debt ceiling unless we get serious about keeping the country from becoming greece, and social security and medicare, here's what i would like, meaningful entitlement reform, not to turn...
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Dec 28, 2012
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the deficit has been improving. the federal deficit has improved over the last couple quarters. >> so is it the case that perhaps because the economy has done better that perhaps that would save us from a credit rating downgrade even if we go over the cliff? >> i don't expect another downgrade from the other rating firms. the next step would be putting it on negative watch. all three major credit rating firms have a negative outlook. the next step is a negative watch and then a downgrade. we don't expect that to happen. especially if the debt ceiling is raised, which is likely, not many people have been speaking about it, but that's likely to come out over the next couple of weeks. then there's the entitlement reform, which probably is more importantly actually than the deficit talks. >> so in terms of entitlement reform, if we have a mini deal, so to speak, where certain tax rates are maintained for the middle class, let's say, but the amount of time in which entitlement reform can be worked out is an extended time
the deficit has been improving. the federal deficit has improved over the last couple quarters. >> so is it the case that perhaps because the economy has done better that perhaps that would save us from a credit rating downgrade even if we go over the cliff? >> i don't expect another downgrade from the other rating firms. the next step would be putting it on negative watch. all three major credit rating firms have a negative outlook. the next step is a negative watch and then a...
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Dec 24, 2012
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doesn't contribute to the deficit. and we're talking about the deficit. why should social security be discussed in that context? >> completely off the table? >> absolutely. absolutely. and that was the -- and that was our position during the campaign. social security has nothing to do with the deficit. does not contribute to it. walled off from it. its own trust fund with $2.7 trillion in it at the moment. and the american people by huge majorities say we shouldn't be cutting social security or for that matter medicare benefits. you can cut medicare in ways you don't cut benefits and the hypocrisy of republicans that said that democrats are terrible because they took $716 billion from medicare for obama care and what do we want to do? pocket the cuts and add more. our chief demand is entitlement cuts. medicare and social security. >> talk about the debt ceiling and where this is played in to this conversation. that is coming up in february or supposed to come up in february. john boehner made the offer to take it off the table for a year but i want to sho
doesn't contribute to the deficit. and we're talking about the deficit. why should social security be discussed in that context? >> completely off the table? >> absolutely. absolutely. and that was the -- and that was our position during the campaign. social security has nothing to do with the deficit. does not contribute to it. walled off from it. its own trust fund with $2.7 trillion in it at the moment. and the american people by huge majorities say we shouldn't be cutting social...
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reduce the deficit by 10 or 12%. so it's a question at this point of what sort of hollow, empty meaningless symbolic gesture daus washington want to make and how many group of people do they want on the altar to make that gesture. >> what's so interesting here is that we're talking about the republicans fighting to protect 1.2% of the american public from a tax increase. 98.2% of taxpayers are below the $250,000 threshold so it's kind of amazing in congress, particularly when we're talking about the house, that he's made a pledge around tacks that its willing to allow 98.2% of americans to pay more by going over -- around this curve, it's more of a curve than a cliff. but i think the issue of the deficit is important. i don't think it's a symbolic gesture. one of the things that we've seen is $200 million we've started carving off the deficit. and the question is the time frame of deficit reduction, right? it's how fast, over what time trajectory do we see health? we've been making improvements over the past three ye
reduce the deficit by 10 or 12%. so it's a question at this point of what sort of hollow, empty meaningless symbolic gesture daus washington want to make and how many group of people do they want on the altar to make that gesture. >> what's so interesting here is that we're talking about the republicans fighting to protect 1.2% of the american public from a tax increase. 98.2% of taxpayers are below the $250,000 threshold so it's kind of amazing in congress, particularly when we're...